Impressive Growth in Cyprus Tourism Revenue: €223.3m in Q1 2024, Surging 11.7% YoY

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said.

Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%.

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The average expenditure per person was €558.88 in March 2024 compared to €530.72 in March 2023 (up 5.3%).

Tourists from the United Kingdom, again Cyprus’ largest tourist market with 31.8% of the total in March, spent on average €73.49 per day, while tourists from Poland, the second largest market with 10.4% of total tourists, spent on average €75.86.

Tourists from Germany, the third largest market with 9.8%, spent on average €98.66 per day, while tourists from Greece with 9% of the market, spent on average €43.37 per day.

Finally, tourists from Israel, the fifth place on the market with 8.2%, spent on average €143.21 per day.

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Institute Of Neurology And Genetics Cyprus Inaugurates Landmark Research Facility

by THEFUTURE.TEAM

March 27, 2026

The Cyprus Institute of Neurology and Genetics inaugurated a new research building, its largest infrastructure project to date. The facility expands capacity for biomedical research and education.

The project was funded by the European Investment Bank and the Republic of Cyprus. This structure marks the first use of such financing for a research project in the country.

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Official Inauguration Signals A New Era In Innovation

Opening marks the expansion of research infrastructure in Cyprus. The institute aims to increase capacity in biomedical and genetic research. The facility supports laboratory work, education and collaboration. Expansion aligns with national efforts to develop research capabilities.

Strategic Investment In Cutting-Edge Research

Funded jointly by the European Investment Bank and the Republic of Cyprus, the project marks the nation’s first research initiative to secure such financial backing. This investment underscores the country’s commitment to elevating scientific exploration and fostering global competitiveness in health research.

World-Class Facilities Designed For Excellence

The new facility spans approximately 11,000 square meters, purposefully designed to accommodate pioneering research teams working on critical health issues. Equipped with state-of-the-art laboratories, advanced technological tools, and modern educational spaces, the building has been constructed to meet international standards akin to leading research centers around the globe.

Enhanced Research And Collaborative Opportunities

The upgraded infrastructure is set to bolster the Institute’s research output significantly. With improved facilities, the building is expected to cultivate critical partnerships and attract a growing number of postgraduate students, ensuring that the benefits of increased research capacity positively impact patients and the broader public.

Leadership Perspective And Future Impact

Professor Leonidas Fylaktou, the General Executive and Medical Director of INGK, expressed his pride in the project. “The official inauguration of our new building fills us with immense pride and joy,” he stated. “This landmark project not only sets the stage for accelerated research but also lays the groundwork for tangible benefits to patients and citizens alike.”

A Beacon Of Biomedical Innovation

The institute continues to position itself as a research center in Cyprus and the region. New facility adds to existing infrastructure and capabilities. Future impact will depend on research output and partnerships. Development reflects continued investment in biomedical research.

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